GM - T- Minus 3 days

Well, todays loss was just over 20% for Government Motors stock with huge sell off numbers, churning at 7 times average volume. Someone is dumping a
lot of GM stock. Finally sinking in that bankruptcy is it. Bet GM is a penny stock by Friday.
Bond holder said correctly, GM's offer was pathetic. Can't blame the 90% that held out and told GM to pay up or else. And the lawyers are moving in on both GM & Chrysler as we speak. I am sure we will hear more in this.
In fact, Chryslers deal is now before the courts, they might not be able to sell Chrysler to Fiat if the bond holders are not paid. LOL. They idiots might want to bypass bankruptcy law, but they can't. If they don't give bond holders a better deal, the whole thing will fall apart and Chrylser vehicles will be sold in a final clearance.
I still can't find a web site that adds up the auto-corruption and cost to taxpayers. But GM alone by my estimates is going to rack up over $100 billion tax dollars to their waste and still will be in financial trouble at that.
And even if GM can rape tax payers for another $27 billion, there si another amount at least $40 billion more coming due. This GM pig is really going to town.
The saga continues as Americans (and Canadians) loose their financial freedom to a world of corrupt corporations. Wasn't there a movie or two about where corporations ruled? Far ahead of its time.
Did you know GM is not the first, second or third largest company to go bankrupt? Not even close. GM is a paper dragon. Cheaper for all concerned just to let them die.
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What is interesting about GMs bankruptcy is that it affects so many people.
It will surely take a long time to process but it will also be interesting to see what all those people released from this stupid management wil do.
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It is blown far out of proportion. GMers think this is an auto depression, it isn't. People everywhere are affected. We don't bailout the majority of others do we? Far more people have lost their jobs outside of auto than inside auto.
What really propels this falacy is the amount of accumulated debt, the ultra-rich and corrupt don't want to be holding the bag and in their corruption-greed want the taxpayer to bail them out. So they steal via the tax system.
Makes those that support this immoral scum actually because they don't repect others needs in financial liberty. Their own greed is more important.
Society survived at least 3 other bankruptcies larger than GM, and society survived without the blood sucking.
We didn't see GM-union hot heads protect textiles, electronics, sundries, small appliances and a host of other businesses gone offshore. The entitlement ass holes need to ask, why should a person pay $60,000 for a GM Volt when a $12,000 equivelent can be had?
Really, this is about screwing they non-auto neighboor.

Like most, they will eventually take jobs elsewhere in society as their skills will permit. If all they can do is drive a GM into the grond, McDonnalds might be their next career. If they are a go-getter with a electricians ticket and developed real skills, they will make the transition in a better way.
But adapt they must. Just like the rest of us.
If they want to prevent such things as GM happening again, they will have to become wiser on who they aupport and how they vote with less greed and more vision in their eyes.
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The bondholders are playing chicken with chysler and gm .....about half of the bond are insured....guess by who...aig has a big stake here.....the bondholders will get paid in fulll if GM defaults ....so they must push gm into bankruptcy ...the big boys are playing games .... our economy has quickly become exactly like the chinesse economy where the governemnt decides what is produced and by whom ...... hmmm didnt they call that fascism
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